KTM’s long history in MotoGP is doubtful amid the currency crisis
New information from Friday’s creditors’ meeting regarding KTM’s insolvency proceedings state the brand’s MotoGP project is “planned” to be axed to reduce costs.
Reports on Friday morning emerged that KTM was being allowed to continue in its current form following a first creditors’ hearing at the Regional Court in Austria.
Investors have expressed interest in a €700 million payout to help KTM, as it looks to restructure in self-administration on the backdrop of at least €1.8 billion in debt.
The forecast for layoffs has also been reduced from 500 to 300, while November and December salaries will be paid – if all goes well – until the end of January.
But initial reports made no mention of where KTM’s MotoGP project sat amidst the ongoing crisis.
The logo issued a confusing message on Friday afternoon saying it would “not let off the accelerator” until 2025, without mentioning its grand prix programs.
The company’s financial crisis has already affected Moto2 and Moto3, with the GASGAS and Husqvarna brands disappearing from the grid by 2025, although many figures have already stated that the MotoGP project will continue as planned.
However, data published by the creditor coverage organization Alpenlandischer Kreditorenverband (AKV) indicates as part of the reorganization measures that “to reduce costs, the withdrawal of MotoGP, Moto2/Moto3 is planned. “
The AKV has not provided any schedule.
Crash.net has reached out to KTM for official comment, with the brand responding:
“Today is a day for KTM with the verification of our restructuring procedures. This step ensures the progression of our plan and we are proud to see that motor sport remains an integral component of this restructuring plan.
“KTM stands firmly committed to motorsport. We repeat our statement for 2025: we will continue to race in MotoGP!
“We are reenergised with today’s positive outcome and thank you for your support.”
KTM is expected to form two groups in MotoGP next year: its factory team led by Brad Binder and Pedro Acosta, and Tech3, which rebranded from KTM after two years to GASGAS, with Maverick Viñales and Enea Bastianini as riders.
KTM also adds 16 motorcycles to the Moto3 grid.
Earlier this week, Acosta’s manager Albert Valera told motorsport. com that KTM had assured him that the racing program would be affected.
“Pedro and I had the opportunity to travel to Austria to see in person the true situation of the KTM project in MotoGP,” said Valera.
“Despite the situation that the company is going through, the emotions are positive.
“They told us that racing was the essence of KTM, that they would continue working with the sole objective of winning the title.
“Pedro is committed to the assignment and feels more relieved after the meeting. “
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